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EcoWorld Upbeat On 2017 Property Market

Last update: 20/02/2017

SHAH ALAM, Feb 20 (Bernama) -- EcoWorld Development Group Bhd is upbeat on the property market for 2017, leveraging on low interest environment and positive buying sentiment.

Its Chief Executive Officer, Datuk Chang Khim Wah, said the market should improve from 2016, with the low interest rate regime being stable and attractive.

"Last year's sales were supported by the market in spite of the goods and services tax as long as product and service requirements were met," he said.

Chang said this to reporters after the company's extraordinary general meeting here today.

He said the only thing the company could do was to be innovative -- to be in the right location and to have products which would attract potential buyers.

"The developers should consider factors such as security and landscaping, as well as keeping purchasers engaged through providing good service and quality product in the market.

"We are optimistic that we will meet our RM4 billion sales target for 2017," he said.

Chang said branding played a pivotal part for the company, as it would translate into buyers' confidence.

On landbank, Chang said, EcoWorld's position was quite stable, as its parcels of land were located in the three major regions in Peninsular Malaysia -- Penang, Klang Valley and Iskandar Malaysia.

He said they also covered major highways in Malaysia, as well as population centres in the three regions.

"We are in most major areas, and we shall build from there," he added.

EcoWorld currently has 3,258.81 hectares with a total gross development value of RM87.5 billion.

-- BERNAMA